Target (NYSE:TGT) Issues Q4 Earnings Guidance

Target (NYSE:TGT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.85-2.45 for the period, compared to the consensus estimate of $2.15. Target also updated its FY 2024 guidance to 8.300-8.900 EPS.

Target Stock Down 3.4 %

Shares of NYSE:TGT opened at $129.95 on Thursday. The stock has a market cap of $59.54 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.32 and a beta of 1.16. The business’s 50 day moving average is $137.06 and its 200 day moving average is $145.39. Target has a 12-month low of $120.21 and a 12-month high of $181.86. The company has a quick ratio of 0.25, a current ratio of 0.94 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last released its quarterly earnings results on Wednesday, November 20th. The retailer reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.45). Target had a net margin of 4.06% and a return on equity of 31.11%. The firm had revenue of $25.23 billion for the quarter, compared to the consensus estimate of $25.87 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts forecast that Target will post 8.6 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Wednesday, February 12th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.45%. Target’s dividend payout ratio is currently 47.51%.

Analysts Set New Price Targets

TGT has been the topic of a number of analyst reports. Daiwa Capital Markets lowered Target from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $170.00 to $130.00 in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lowered Target from a “buy” rating to a “hold” rating and cut their price objective for the stock from $184.00 to $108.00 in a report on Wednesday, November 20th. Sanford C. Bernstein started coverage on shares of Target in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $168.00 price target for the company. TD Cowen dropped their price objective on shares of Target from $165.00 to $145.00 and set a “hold” rating for the company in a report on Thursday, November 21st. Finally, Stifel Nicolaus raised their price target on Target from $137.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $160.57.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.